California Refinance With Pay Option Adjustable Rate Home Mortgage ( ARM ) Loans
Written by Keith Hunt   
April 26, 2007
Apr 26, 2007 -- /prbuzz/ -- More and more California homeowners are using Pay Option ARM home mortgage loans to consolidate credit card debt. Paying off their credit card debts increases their monthly cash flow. Some are even using the money they were spending on credit cards and paying extra on their mortgage every month to reduce the term. These options let you decide which months you need extra cash for whatever reason. Planning a trip and need extra spending money? No problem, that month you can make the interest only payment.

As Pay Option ARM California home mortgage loans let you decide the monthly payment they are ideal for somebody that is in between jobs or those that have a fluctuating income such as sales professionals or the self-employed.

For instance, a self-employed contractor will be busy during the spring and summer, but due to weather conditions in the winter business will slow down. When business is going well the contractor can make a fully amortized payment but when business is slow he can take advantage of the new low deferred interest payment. With this program, monthly mortgage payments can be made depending on current cash flow situation.

Some California home owners are using Pay Option ARM home mortgage loans to get cash out. This cash can be used for any reason such as a down payment on a rental property, home improvement, or start a business venture. Pay Option ARM home mortgage loans are also ideal for a new home purchase. If you are a first time home buyer and want the lowest possible monthly mortgage payment, this is the program for you.

Pay Option ARM home mortgage loans are a relatively new product that allows you four payment options each month: 1. 15 year payment- Pay your home mortgage loan off and build equity faster as well as save thousands of dollars in interest; 2. 30 year payment- This option will let you know how much to pay to have your home free and clear in the standard thirty years; 3. Interest only option- This option allows you to pay only the interest portion of your monthly payment so you can increase monthly cash flow; 1% Minimum payment-This option allows you to pay your mortgage at a 1% rate of interest for maximum savings.

The Pay Option is the absolute best adjustable rate mortgage, ARM, product available today for refinancing or debt consolidation. It has built in features that protect you from the typical worries associated with an adjustable rate mortgage. One is the fact that your payment cannot increase more than 7.5% above the previous year for the first five years. Another gives you the option to convert to a fixed rate mortgage after the first three years. With these features in place you can rest easy with your California Refinance and your new adjustable rate mortgage or ARM.

For immediate assistance on refinancing in California or consolidating credit card debt with a Pay Option ARM California home mortgage loans please call 1-866-398-4664. Or go to http://www.goldmedalmortgage.com/PayOptionRefinanceLoans
About the Press Release
Refinance in California with pay option adjustable rate mortgage where you choose your own payment every month. Lower your payment or get cash out.


 
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